Form 1041A

Form 1041-A (Rev. December 1993) Department of the Treasury Internal Revenue Service U.S. Information Return Trust Accumulation of Charitable Amounts For calendar year 19 OMB No. 1545-0094 Expires 11-30-96 Employer identification number Name of trust Name of trustee Number, street, and room or suite no. (or P.O. box) City, state, and ZIP code Part I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Income and Deductions (See the instructions for Form 1041 or Form 5227.) If total income is $25,000 or less, skip lines 1–8. Interest income Dividends Business income or (loss) (attach Schedule C or C-EZ (Form 1040)) Capital gain or (loss) (attach Schedule D (Form 1041)) Rents, royalties, partnerships, other estates and trusts, etc. (attach Schedule E (Form 1040)) Farm income or (loss) (attach Schedule F (Form 1040)) Ordinary gain or (loss) (attach Form 4797) Other income (state nature of income) Total income (combine lines 1 through 8) Interest Taxes Charitable deduction (itemize by charitable purpose; include payee’s name and address) Trustee fees Attorney, accountant, and return preparer fees Other deductions (attach schedule) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Deductions Income Part II 16 17 Distributions of Income Set Aside for Charitable Purposes (see instructions) 16 Accumulated income set aside in prior tax years for which a deduction was claimed under section 642(c) Income set aside in prior tax years for which a deduction was claimed under section 642(c) and which was distributed during the current tax year (itemize by charitable purpose; include payee’s name and address) 17a 17b 17c 17d 17e Total (add lines 17a through 17e) Balance (subtract line 18 from line 16) Income set aside during the current tax year for which a deduction was claimed under section 642(c) (included in Part I, line 12) Carryover (add lines 19 and 20) a b c d e 18 19 20 21 18 19 20 21 Part III Distributions of Principal for Charitable Purposes (see instructions) 22 23 a b c d e 24 Principal distributed in prior tax years for charitable purposes Principal distributed during the current tax year for charitable purposes (itemize by charitable purpose; include payee’s name and address) 23a 23b 23c 23d 23e Total (add lines 23a through 23e) Cat. No. 10615B 22 24 Form For Paperwork Reduction Act Notice, see instructions. 1041-A (Rev. 12-93) Form 1041-A (Rev. 12-93) Page 2 Part IV Balance Sheets (see instructions). If line 9, page 1, is $25,000 or less, complete only lines 38, 42, and 45 (see instructions). Assets (a) Beginning-ofYear Book Value (b) End-of-Year Book Value 25 26 27a b 28a b 29 30 31 32 33 34a b 35 36a b 37 38 39 40 41 42 43 44 45 46 Cash—non-interest bearing Savings and temporary cash investments 27a Accounts receivable 27b Less: allowance for doubtful accounts 28a Notes and loans receivable 28b Less: allowance for doubtful accounts Inventories for sale or use Prepaid expenses and deferred charges Investments—U.S. and state government obligations (attach schedule) Investments—corporate stock (attach schedule) Investments—corporate bonds (attach schedule) 34a Investments—land, buildings, and equipment: basis 34b Less: accumulated depreciation Investments—other (attach schedule) 36a Land, buildings, and equipment: basis 36b Less: accumulated depreciation Other assets (describe Total assets (add lines 25 through 37) 25 26 29 30 31 32 33 35 ) 37 38 39 40 41 42 43 44 45 46 Liabilities Accounts payable and accrued expenses Mortgages and other notes payable (attach schedule) Other liabilities (describe Total liabilities (add lines 39 through 41) ) Net Assets Trust principal or corpus Undistributed income and profits Total net assets (add lines 43 and 44) Total liabilities and net assets (add lines 42 and 45) Please Sign Here Paid Preparer’s Use Only Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than trustee) is based on all information of which preparer has any knowledge. Signature of trustee or officer representing trustee Preparer’s signature Firm’s name (or yours, if self-employed) and address Date Check if selfemployed Date ZIP code Form 1041-A (Rev. 12-93) Page 3 Paperwork Reduction Act Notice We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. The time needed to complete and file this form will vary depending on individual circumstances. The estimated average time is: Recordkeeping Learning about the law or the form Preparing the form Copying, assembling, and sending the form to the IRS 24 hr., 9 min. 3 hr., 20 min. 8 hr., 32 min. ● A split-interest trust described in section 4947(a)(2) if all transfers of corpus to the trust occurred before May 27, 1969, and no section 642(c) deduction is claimed. Public Inspection See Regulations section 301.6104(b)– 1(d) for the procedures to request public inspection of this form. When To File File Form 1041-A on or before April 15 following the close of the calendar year. Specific Instructions Part II—Distributions of Income Set Aside For Charitable Purposes Lines 17a–17e.—Provide a listing in sufficient detail for each class of activity for which a disbursement was made, and a charitable deduction under section 642(c) was taken. Such amounts permanently set aside must be earned from amounts transferred to the trust before October 9, 1969. Do not merely enter the category (i.e., religious, charitable, scientific, literary, or educational), but also enter the purpose of the deduction. For example, “payments of $4,000 to indigent persons for medical purposes,” or a “grant of $25,000 to equip the chemistry lab at a university.” Where To File Please mail Form 1041-A to the Internal Revenue Service Center listed below for the state where the trustee lives or has a principal place of business. If you are located in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee Arizona, Colorado, Kansas, New Mexico, Oklahoma, Texas, Utah, Wyoming Indiana, Kentucky, Michigan, Ohio, West Virginia Alaska, California, Hawaii, Idaho, Nevada, Oregon, Washington Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, Vermont Illinois, Iowa, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota, Wisconsin Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania, Virginia, any U.S. possession, or foreign country Please mail to the following Internal Revenue Service Center Atlanta, GA 39901 1 hr., 20 min. If you have comments concerning the accuracy of these time estimates or suggestions for making this form more simple, we would be happy to hear from you. You can write to both the Internal Revenue Service, Attention: Reports Clearance Officer, PC:FP, Washington, DC 20224; and the Office of Management and Budget, Paperwork Reduction Project (1545-0094), Washington, DC 20503. DO NOT send the tax form to either of these offices. Instead, see Where To File on this page. Austin, TX 73301 Cincinnati, OH 45999 Fresno, CA 93888 Holtsville, NY 00501 Part III—Distributions of Principal for Charitable Purposes Lines 23a–23e.—Provide a listing in sufficient detail, similar to the examples provided above, for each class of activity for amounts paid out of principal for charitable purposes. See the instructions for Form 1041, U.S. Fiduciary Income Tax Return, for more information regarding the allowance of deductions for amounts permanently set aside for a charitable purpose. Kansas City, MO 64999 General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Philadelphia, PA 19255 A Change To Note The Balance Sheet in Part IV has been substantially revised to conform with the one used in Form 5227, Split-Interest Trust Information Return. Penalties Section 6652(c)(2) provides for separate penalties of $10 a day, up to a maximum of $5,000, against both the trust and the trustee for not filing Form 1041-A on time, unless there is reasonable cause. The law also provides penalties for filing a false or fraudulent return. Part IV—Balance Sheets Complete the balance sheets using the accounting method the trust uses in keeping its books and records. All filers must complete columns (a) and (b). Purpose of Form Use Form 1041-A to report the charitable information required by section 6034 and the related regulations. Who Must File The trustee must file Form 1041-A for: ● A trust that claims a charitable or other deduction under section 642(c), or ● A split-interest trust described in section 4947(a)(2), including charitable remainder trusts (section 664) and pooled income funds (section 642(c)(5)). The trustee does not have to file Form 1041-A for: ● A trust that is required to distribute currently to the beneficiaries all the income for the tax year determined under section 643(b) and related regulations, ● A charitable trust described in section 4947(a)(1), or Rounding Off to Whole Dollars You may show the money items on the return and accompanying schedules as whole-dollar amounts. To do so, drop amounts less than 50 cents and increase any amounts from 50 to 99 cents to the next dollar. Assets When space is provided to the left of column (a) for reporting receivables and the related allowance for doubtful accounts or depreciable assets and accumulated depreciation, enter the end-of-year figures. Line 25—Cash-non-interest bearing.— Enter the amount of cash on deposit in checking accounts, deposits in transit, change funds, petty cash funds, or any other non-interest bearing accounts. Do not include advances to employees or officers or refundable deposits paid to suppliers or others. Line 26—Savings and temporary cash investments.—Enter the total of cash in savings or other interest-bearing accounts and temporary cash investments, such as money market Attachments If you need more space, attach separate sheets showing the same information in the same order as on the printed forms. Show the totals on the printed forms. Enter the trust’s employer identification number (EIN) on each sheet. Also, use sheets that are the same size as the forms and indicate clearly the line of the printed form to which the information relates. Form 1041-A (Rev. 12-93) Page 4 funds, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature in less than 1 year. Line 27—Accounts receivable.—Enter the total accounts receivable (reduced by the corresponding allowance for doubtful accounts) that arose from the sale of goods and/or the performance of services. Claims against vendors or refundable deposits with suppliers or others may be reported here if not significant in amount. If significant in amount, report them (with any advances to employees or officers) on line 37, Other assets. Line 28—Notes and loans receivable.—Enter the combined total of notes receivable and net loans receivable (including receivables due from officers, directors, trustees, and other disqualified persons). In an attached schedule, show the following information (preferably in columnar format): ● Borrower’s name and title. ● Original amount. ● Balance due. ● Date of note. ● Maturity date. ● Repayment terms. ● Interest rate. ● Security provided by the borrower. ● Purpose of the loan. ● Description and fair market value of the consideration furnished by the lender. Line 29—Inventories for sale or use.— Enter the amount of materials, goods, and supplies purchased or manufactured by the trust and held for sale or use in some future period. Line 30—Prepaid expenses and deferred charges.—Enter the amount of short-term and long-term prepayments of future expenses attributable to one or more future accounting periods. Examples include prepayments of rent, insurance, and pension costs. Lines 31, 32, and 33—Investments— government obligations, corporate stocks, and corporate bonds.—Enter the book value (which may be market value) of these investments. Attach a schedule that lists each security held at the end of the year and shows whether the security is listed at cost (including the value recorded at the time of receipt in the case of donated securities) or end-of-year market value. Do not include amounts on line 26. Government obligations reported on line 31 are those that mature in 1 year or more. Debt securities of the U.S. government may be reported as a single total rather than itemized. Obligations of state and municipal governments may also be reported as a lump-sum total. Do not combine U.S. government obligations with state and municipal obligations on the attached schedule. Line 34—Investments—land, buildings, and equipment.—Attach a schedule of all land, buildings, and equipment that are held for investment purposes, such as rental properties. List the cost or other basis of these assets, accumulated depreciation, and end-of-year book value. Line 35—Investments—other.—Enter the amount of all other investment holdings not reported on lines 31 through 34. Attach a schedule describing each of these investments held at the end of the year. List the cost, or other basis, and the end-of-year book value. Line 36—Land, buildings, and equipment.—Attach a schedule of all land, buildings, and equipment that are NOT held for investment purposes, such as the trust’s offices. List the cost or other basis of these assets, accumulated depreciation, and end-of-year book value. Line 37—Other assets.—Enter the book value of any trust assets that have not been reported on lines 25 through 36. If more space is needed, attach a separate schedule with a description of the asset, date acquired, and end-of-year book value. Liabilities Line 39—Accounts payable and accrued expenses.—Enter the total accounts payable to suppliers and others, and accrued expenses such as salaries payable, accrued payroll taxes, and interest payable. Line 40—Mortages and other notes payable.—Attach a schedule showing, as of the end of the year, the total amount of all mortgages payable, and for each nonmortgage note payable, the lender’s name and the other information specified in the line 28 instructions. Line 41—Other liabilities.—Enter the book value of any trust liabilities that have not been reported on lines 39 or 40. If more space is needed, attach a separate schedule with a description of the liability and amount. Signature Form 1041-A must be signed by the trustee or by an authorized representative. If you, as trustee (or an employee or officer of the trust), fill in Form 1041-A, the Paid Preparer’s space should be left blank. If someone prepares this return without charge, that person should not sign the return. Generally, anyone who is paid to prepare a tax return must sign the return and fill in the other blanks in the Paid Preparer’s Use Only area of the return. If you have questions about whether a preparer is required to sign the return, please contact an IRS office. The person required to sign the return as the preparer must complete the required preparer information and: ● Sign it, by hand, in the space provided for the preparer’s signature. (Signature stamps and labels are not acceptable.) ● Give the trustee a copy of the return in addition to the copy to be filed with the IRS. Printed on recycled paper